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and from out are space. that is it this afternoon. the dow? well, maybe the folks down on wall strt were watching the news today. it is es. colw bs lvio every cloud. please do that today, neil. >>nei nle bu oe n maen stop a crash like this from happening and prevent a market like this from being a preview of coming attractions and still have time toave the country. i will do wha i can. loing cen atisat dokou yondr money.
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enough about me. back to me. coraryotough h arhiecis big. the cash crunch that no one is talking about, that bigger. whoever is the president, he will face the mother of all geadt im b hy "p.a clue. doknre cl it a cliff but you should have spasms a year ender that could take the whole economy under when all the bush tax cuts phase out and all the automatic spending cuts kick lo millions of americans likely to lose their jobs and
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millions of american families likely to face thousands more in cobere l a slope. if congress doesn't move fast, kick the recovery or maybe the country goodbye it is the story that no one is talking about. you have mentioned it, but w linat tss ao ich it. >>guest: what is amazing to me, this is the most predictable, avoidable financial crisis we have ever had in the history of this country. you are so right, if the bush tax cu eirendhe mapng cgo i ,megma -- elimination of the a.t.m. affecting 30 million people, the tax holidays goes around, unemployment benits go away, usecon if "newrrendous, 7
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york times" thinks this is going to be a slope, they are dreaming. that money will come out of their checks the first of the year. we will see a slow down. i suspect we are not onlyoin aip a rssnyo yo cit honeywell or j.p. morgan, everyone can see it. >>neil: i am listening to james dime from j.p. morgan setting aside $200illion plus lls par t ssitisome could blow up on december 31. what do you think hapn? what i hear from congressional susileere mr sideof the teweath it is president romney or re-elected
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president obama. that is when they will sort this out. i think that is whistleing past >>est:ot gard. r woodward's book, you will see what went on to create some of this, back in 2011 we passed the budget control bill, you will see there was no honest political move ou ed ocaenta eyteconghe bush tax cuts. was foolish. they kicked the can down the road and this time it cannot be kicked. you hear that the bush tax cuts favor the wealthy, right? ifhe ts ftheyl tat. wiaween $678 billion and $800 billion over 10 years. guess what in if you let them expire, how about$3.7 trillion. nody wts totalkab
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tt-pelnt t room. they have created this mess. there is a way to x it but will they put the politics aside? wiea aheee targument is they ep gnmt rinor mhse election many can argue they did it through smokescreens, that they will do whatever they can to avoid this. but a forr c.b.o. director told me yesterday on fox business, and if y don't get dnd is w prm us knghe do the road will fought reinforce investors' faith in anything of the united states but will lead to more sell offs. >>guest: there you go. that is right. butr af1 we pdhe d doad moody's and s&p, now we are talking about being put peoplely on the negative watch.
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what will happen with investors that do not want to put their money in? ththes wo mat wat ifey er t percent? you can see a huge sell off in the stock market. that would create a lost -- a lot of uncertainty. 14 out of 17 economists say this is morerih t european debt crisis. this should be talked about on every single news broadcast tonight but it won't be because they are talking about big bird. it is ridiculous. >>neil: you are right it is a dop. reit anu uc. >> we are not forgetting this. we are headed out there, washinon, for that wipe out, to avoid it as the fiscal wave crashes wn on a of us. that isindeed the fcal w. iou tye w eou do.
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you think you are okay. ing is okay. looking go. oops, this is so important, we will be live in washington,c, onur kngff10cost oed m. eer o talking about this. everyone is focused on the election. but we can mull d -- multitask here i veneit o a lunch and talk at the same time. >> the former head of the u.s. military team in libya geebe fsde was nevele to te tomd w baorte killed. the lt. colonel wood revealing security in benghazi remained a struggle the entire time he was
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there. democrats trying to pin the pps tee budgettb resources we might have had a different result. i must note, though, tt wle thdgth dseican budgetncrees thou have protected these diplomats. >> i might note that the funding that is currently enjoyed by the biisonre drament was v th republicans. >>neil: they are putting it on all republicans and it ain't flying well with senator graha you have heard that. what do you ink of that? >>gues a theanng opioubitthor ths a bunch of garbage.
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this is about -- you talk about the fiscal cliff being predictable, what is predictable with aack of securyia ias t w, ul a embassies will be attacked. we need to get to the real secuty situation? did people make a request were they denied? re of the video in did she say that based on inteigence for five days? she said it five days after the attack. orheelncs bae ic fi days that someone needs to be fired on the intelligence side. think this is very serious.
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>>neil: knowhat t sa acu o the compound. i don't think it is a huge leap to assume that he might have cabled the state department, words to that effect, or warning or threes toatf. tdt a hand on such cables or whether they indeed exist? >>guest: i sent a letter with john mccain asking the intelligence community to account for what they were llingheteart sk sta ctote siie, as the security footprint there in did we have enough security? did we meet the needs of the people othe ground? did they ask for a senator legal of security? was it available to them? setytpoqstio hwae eq? ths. ambassador to the united nations be so wrong five
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days after the attack? why did she feel so emboldened to go on national tv and say this was the result of a r weleret t truth. the people we need to testify is susan rice and the intelligence community. without those two groups testifying, we will ner get to the bottom of this. neil: do you think the president lied? esinen ol doknf i h oue outraged. they accused of bush not being intellectually cious and asking hard questions. where is president obama? he went to a fundraiser the day after this happened. if i were president ofhe u.madothn. esnd i foundutmy tileond the american public something so far away from the truth i would want to know, why did you say that? whatade you say that? if you had intelligence suggesting that was the case, why was it s w,ndr
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? ton obama. they swing everything. they undercut the commanders in iraq and libya is a symptom of overall greater proble a lack of leadership by the united states. itsautp it ea dsying reality. it has caught up with us in libya and someone needs to be held accountable. >>neil: i am glad you are trying toet to the bottom of this, senator. thank you for taking the time. while this firstresintia baas te tesc deve brentl libya is expected to come up tomorrow in kentucky. we are live. our courage begins a 4:00 p.m. eastern. we have senator rand paul, we have coressman from south carolina, hermana puan tofrew hampshire. and former intelligence c.e.o. will be with us, and former
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governor of california gray davis. the names that are the best in business and on politics onth one nrktcoesot oted f f sitw you get foreign market reaction and our own market reaction as it happens, as they are debating. we seized on that last week, the firstositiv response from what turned outo it eynid ut th markets were sensing something big was going on. we were the only network that gave you that. that is called added value, my iend. that is what you get with fox business nwork. you arnot getting i you allo pelyt. wa i we will make it worthwhile that you have it. >> suddenly surging, pennsylvania and the 20 electoral vote are back in ay. de, t state, with the
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governor next. manner ig fede?
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a pshg closing a double digit gap, two points from the president. this is person and ronalreagan was the last republican to win. maybe credit is, well, to this goor ara of "a." in a new ca testimony o -- ca testimony o tax reformolicies. the fine governor joing me now. >>t: tsfoavme you foromg.
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today. >>neil: maybe your policies are helping, but it cuts both way. i amuru stwam t tot ov rd owholal benefits. why do you think the polls are narrowing? what are they discovering? >>guest: well, in regard to the polls here in pennsylnia, what i seereeople t we a sti ew onov in pennsylvania. we have growth going on in our energy sector, in our biotech sector. we saved jobs down in philadelphia with theefinies argoe g obuss er aove finth sinus starting. as it goes to the polls, i don't think that people in pennsylvania are happy with where we have gone in the last four years. i believe the polls are
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narrowin lot nen nbee the onloll i bu i ceren pennsylvania than what i have seen in other polls that have been in the national media the last few days. >>neil: why is that? i noticed your state polls ying they have a huge swing and theresi non a up psnothe 12 points and then ten points but w to be even, that tells me, either a lost independents are coming out of the woodwork or a lot of the president's supporters are switching sides. >>t:l, t l uperoed f him four years ago, either are not going to vote, they have decided they will stand o the side line or will switch over to mitt romney in this election. traveling across pennlvania i havetalked to aot oop, cranepnt a blsout votes for president obama and
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they have said they are not voting for president obama this time and they believe we need a change in washington. >>neil: you have proven at state level and i am not blowing out you smoke b imtrd thane.ne s bl simplify the tax code. make it more friendly to business and individuals. you can do that. it is tough but you can do it. right? >>guest: you can do it if you ip a t ielou can't spend more than you receive in revenues to the state. we are not washington, dc. we don't print money. we don't continue to add to the debt in that respect. we have to corol our spending. the spegor te gng re eafr$2 iol $29 billion. we have reduced it by $2 billion. some of the money in the last budget before i took office was based on federal stimulus money that was one time money and is
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ne. yoanly sha w u h, a mre tough decisions. it is interesting to note, i always ask people who want more money r various categories in line items, well, do you want me to raise taxes? the answer is ys " so iel pis w d taise taxes as governor. we will live in our means. the best way, then, to increase revenue to the general fund is to increase the busines climate to bring businesses to syia te nnanan tee ars pennsylvania. yesterday, we are starting up new companies with the ben franin and it isrk moul time jobs as the health care log kicks -- law
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kis? >> we have to pass the bill so and o whais i i aymeyro controversy. campbell's healthy request soup lets you hear it... in your heart. [ basketball bouncing ] heart healthy. great taste. mmm... [ male announcer ] sounds good. it's amazing what soup can do.
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>>neil: this just in, to your health, not. i love th snt. l oivde workers could be facing this, but the parent companies of this company and lobster house are ready to cut costs ahead of the health care law kickingn. cju t gig. tpi gu i i ridiculous. it is obvious who would happen. you institute the law you is to pay for health care for those working over 30 hours, what do
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businesses do? they have workers work 29 hrs ich is what he. thndlor.fo iowin works. politicians should have to take basic business classes before they start their terms. >>neil: they said premiums would not goup. ueterneover br are your children in up to age 26, the money does not come out of thin air. >>guest: it is great to have health care, this is something that maybe everyone should have, but somne has pay for it. i don't knhy ywo rpd owos rkescoerllay more, but, either way, companies are going do have to pass the we wa toapsrs let pe win
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that is already a huge problem. we don't want prices for food and goods and services to go up because consumers are strapped. they will consume less. >>neil: what will they d the flip side, i heard it ntio iee ca hly wrsus rk frur i don't see that. >>guest: i don't know how that is benefitbecause when you talk to people and we saw this in t labor numbers, the magical 759,000 people who werealled >>: thwe tyr. phone action 2. >>guest: so, the people, if you take both surveys at face value it mean they are working partime a home for themselv fo cotal m id lehe c g,tpl aot having the 9:00 to 5:00 job with benefits, with a retirement plan, with vacation time. it is a part-me economy. that is what the adnistration
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is giving us. >>neil: at is teresting, a whe got exemptions and waivers and even request that, they are saying, well, we have to adjust. >>guest: that is how the economy works. we are hinst oy raicis 5 p.m., the guy from white castle, do you want to stop by? right across the hall in 30 minutes. >>neil: is he bringing anything, i wonder? >>guest: cld s up. goto if he has brought neil cavuto cheeseburgers. >>neil: not the cheese. not the cheese. is it meat? kiddin ddin kig. . on ohestit tur fine network.
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she is brillant but she is also fund and funny. >>guest: i could stay all day. ne i have to tell you as the c.e.o.'s are dealing with the health care changes, others are raising ho hell. that 8:00 p.m. on fox business network, sething this casi gnusidld ce ecef ren ce gst osama bin laden is dead. general motors is alive. but g.m. is still struggling. fears that thousands of osama bin laden wanna bees are very sa a, sha you gonna say tomorrow night, joe?
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can your hearing aid do all this? lyric can. to learn more about lyric's advanced technology, ll or vit tlyricom r a rifr0- t o. anart ttyr n or. ll lyric from phonak. life is on. de monit aewimes on the trail. >> osama bin laden is dead. general motors is alive. >> i got a butcher -- bumper sticker for you, osama bin laden o bads ndelor rato i alive. >> osama bin laden is dead and general motors is alive. that's a bumper sticker. it sums it up. >>neil: does it? keue gutth ttobaamn
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department doing a 180 before the v.p. debate. it is not making the president look any stronger on his key suorpo. ilp h i tidllave some trouble when he faces paul ryan on this. the romney campaign ha been making the case that president obama should have been more prepared for the attacks. the white house has not done a good job defending eresint is ileue i t it a tragedy, you can question people on what they knew or how much they knew, but it is the mide east, it is a bask case, move on. >>guest: sure, but, basically, is i now ahitese o onndallid president should have done more to prevent this and now president obama doesn't get to talk aout the new unemployment rate of 7.8 percent.
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instead he spends the next week defending the white house on that. >>neil: that is an ieresng pot. caatppbantit this, saying i goofed, i should not have said that, will joe biden be playing the role of saying, we got that wrong, our initial reaction was wrong but blahlecord inhedd etis >>guest: this shows a breakdown in communication between the state department and the white house. the state department is now saying that the video had nothing to do with violence. of course, the white house was saying that for aweek. y dey pethr saitveadyt with it in the first place? that calls into question the president's management style. >>neil: it also calls into question whether we wanto enod mte b.
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does that get slippery for paul ryan? >>guest: it could but the reason for that is the electorate is very war weary. inheddt.ould bemoreol case ri fheublican ticket going forward. >>neil: thank you very much. >> here is how desperate it could be for the present. he is regn joeen t rn tar. >>rtyo right. the vice president has had issues sometimes being tongue-tied the way they like to say inside the white house heis someone o shoots straight. he doesn't spin, if you will. as aelt,hatn getim toi ub f gnt yic u on what erin said, the issue with libya, that is something that the vice president will likely be confronted with, as carney was
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today, at the white house podium because what the state partnt sla nt, act athaed ai saying from very early, the state department never believed this was a protest gone awry. that does raise questions about why top officials like scan difficult and ambassador rice kept saying this was waapo ttiim film. >> did she and you and other mislead the public because you did not want to admit there was a terror attack? >>guest: absolutely not. the presidentof the unid statald i an ate ritur po: e pidid on september 12 say an act of terror will though deter the united states from moving forward on a number of fronts but, half 9/11, jake carney and ambassador rice and many other ined i neisn theadmistraon apotohe f. e pdeid was the senate foreign relations
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chairman and has a major foreign policy portfolio in the administration, this could be one of many issues to be pressed on tomorrow night. >>neil: look forward to it. wtet campaign for this clip. road runner can survive these drops, and a republican senator argues we cannot. the nitty-gritty from a guy that donot ilvor e, coes t hurry. the road runner would say "beep beep." oh...there you go. wooohaah m a d tr! no you're not. i know. you know ronny folks who save hundreds of dollars switching to geico sure are happy. how happy are they jmy? happier than a witch in a broom factory.
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expires tax rates and budget cuts, hop on to it. wi .a republican sere iehtl fo ser hume is talking about chuck schumer has carved out a place for himself well outside the main strea arguing that this is no scenario where we c lower the maalra w coteitwhve rt gas oked at to addressing our budget problem on the tax side. the rational thing too is to have a more pro growth sensible tax policy with lower marginal ras and offset the lost revenue byqueeng va eiond wof a that is the way to generate revenue. to keep marginal rates as he has advocated, even, to raise them above where they, that is counterproductive for economic growth. yoguiss ttialngbo
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o that. do you think and i know you want to see mitt romney elected, but if the president were re-elected, do you think he would say, absolutely not to that, andlack sio th s of maybe getting a six-month extension if cooler heads on both sides to prevail and address this. >>guest:t is impossible to tell. i don' know what present ama wilr. aswigre fog etlts wt in do tax reform. he had four years. we would have embraced an opportunity to do fundamental tax reform. the president never pvide any idea that he had any interes if that. i t k ggoafteran ti t heild h willing to do that? i suppose it is possible but i could not predict that. >>neil: senator we will be live in washington, dc, looking
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at this other, you kw, potential train wrec that develops bore the ofhe yoot hrut meg. t in t you will, a lame duck session might take a three or six month reprieve to hammer something out, or that this could be the sort of financial armageddon we ldac this-sear fiscal cliff. there are two big discreet components and we should thing of them separately in my view the one is the massive tax increases which are devastating for our economy. heerd, ies enuch a tuesday but poorly designed in that they fall disproportionately on our defense budget. i think it and important that we distinguish between those things. >>neil: they hapning at the samee,houg >>gut: ttis t ne aatt?
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>>guest: what i advocate is we reengineer the content of the spending cuts. too much fall on defense. but the magnitude of the spending cuts isecessary and appropriate. we need to cut more than that. i think the onomwouldo fi bon i di cuts because of government is more than $100 billion too big. we need to avoithe $500 billion tax increase thecale of the tax hikes if nothing ne opwe will avoid the massive tax officer. >>neil: look forward to seeing youin person tomorrow, in kentucky. thank you very much, sir. nd ic whom n"t five." >>eric: we will look at what is going on in benghazi and the hearings and find out what we knew, who knew what, when,
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whether there is a coverup, what going on and why we are o no nd oat w h ys t tst pants thg mpletely different. we will look into that. then well turn our tables to some media bias. tomorrow night is the big vice presidential debate. we want to know why it took the "daily calle to ft o waosie orent obama 20 years ago president obama attended her wedding the we will bigg indo -- we will dig into that. neil you talked about business leaders are pushing backrom presidmaolui evnn a j wan mr. otis and head of white castle. we will look at that and have fun with pickinon bl. th wh w attacked for supporting mitt romney, an
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african-american actress. she stood herround and she doubled down on it and we will talk about that. >>neil: thank you, eric. nd tmbas worried now about the win, and donor sources are talking, and wait until you hear what you are saying.
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>>neil: we hear the president's re-election attempt is sweating not so much because numbers on the polls show the presidenis fling bunone iselnghe eom ere idis publicking. charles gasparino on the story we do not hear.
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>>guest: i have a few sources, wall street gam that are involved in politics and one i d a conversation with abo thectofxd t t te performance. not just that. he, of course, is the chief political guru of obama. what he has realized, david axelrod, is that it is not just the debate. e debate was a searm of thse,atsi a an omt ryha t defend and defending it in the debates where, you know, it is kind of like you cannot spin your way through. you cannot read off the teleprompter, it is hard w someone isuttit to ynd >>: arpd h n getting more bang for the polls with the 7.8 unemployment rate. >>guest: that is the other half. the public, because of people like jack welch, who did all th i that the
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fact he came out and educated the public the numbers are manipulateed and --. >>neil: he said there are no guards thererying to hold them of >>est: it isu d s vea ey ga ao of an insight into how that is done and he did it, i think he did it in great way to be honest. a lost my journalist friends think he did it in an intful way. yoouaeheni dn' a gr a she unemployment rate drop the way it did so he questioned that. ing he said because there is so much "squish" in the numbers and room to guesstimate where it is, do notayen. unoy.t r iyers dendg ustth real unemployment is much higher. >>neil: so when the administration afghanistans --
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administration argues that the trend is t friend-. opte t ihe people that is dropped, unemployed and thos who is dropped out of the workforce brings the rate up to 15 percent. that rate, the official nr, itango dnen me pe ofek first so that is the squish in the numbersnd that is what jack welch showed us. it is difficult for am obama to defend this. the real numbers are really bad. you would thinkou a mp .8ce plnte tet ownc 2008 snce taking over. late 2008, excuse me. >>neil: he could have arrested it, it looks like a free fall. >>gues jhelch d t eai i ne n, dsre
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saying what to president obama? >>guest: i think tre is not necessarily that they are backing out, but what you have is political advisors ifree ll eyretngndan maad theproter and i am sick of the speeches, i don't get the tingly stuff up my spine and never have. what will make-or-break this election probably is no a gat eenroepte isbayeibl talk on your feet. >>neil: like you. you never read a teleprompter. you wouldn't know what to do with it. we are down. welcome to the nu . hewir.
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or better is still bad for you. the administration can rightly claim the data is getting tter. the problem is,hat doesn't mean the data is good. by l, iot hi s t rer ho boo ahr times massachusetts jobs created each and every mont mon. but white house is greater for meager advances, better than no advance at all. fehaynd w sdnays whoul gfu ho bad ay br noo it's bad. it's very bad. we shouldn't settle for so-so. we should aim for gung-ho. because we're not getting it, give the president the heave-ho. it's all about your rsivsn prenrtis s would brag about 7.8% unemployment rate. there was a time whenever prior month of president tenure that rate had never been lower. not good, but better. that is kind of where the economy andsow.
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noeaut agiya prg. rli cllenger who says we shouldn't be satisfied with the recovery like this, by the historical standards is positively revolting. i guess it depends where you've got things i your own pod ea wh mby ffo le t not as bad stuff. we're so ticked off that you just had it with being stuck. you want more, not less of more. you want a lot more. more or less. that's what this whole campaign comes do. os. thil be a quiz when we're in kentucky. don't forget, the special coverage of the v.p. debate, 4:00 p.m. eastern time in danville, kentucky. 8:00 p.m. through midnight on fox business network. gaing rket reactn. e oho itnntinea oow op lalla money on this. and get the game of where we're going becau

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Your World With Neil Cavuto
FOX News October 10, 2012 4:00pm-5:00pm EDT

News/Business. Money tips from Wall Street. New. (CC)

TOPIC FREQUENCY Us 6, Libya 5, Pennsylvania 5, Kentucky 4, Washington 4, Dc 3, Ing 2, Benghazi 2, Obama 2, Geico 2, Osama Bin 2, Jack Welch 2, Chuck Schumer 2, Paul Ryan 2, Phonak 2, United States 2, Morgan 1, Lue 1, Philadelphia 1, Ecs 1
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on 10/10/2012
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